Fi-Tek to add 200 jobs in its Kolkata facility

US-based financial product company, Fi-Tek will add 200 jobs in its Kolkata facility for developers, customer services and technical staff in the next 12-18 months.

Subir Chatterjee, chief executive officer (CEO) and president Fi-Tek said, the company was venturing into product-based BPO service. He however clarified that it would be high-end BPO.

Fi-Tek's primary growth would come from product extensions and market penetration, especially in banking and hedge funds, as well as BPO services.

Many of the banks and hedge funds would like to outsource their back office, thus creating major BPO opportunities for Fi-Tek.

These services would include hosting of major applications, customer support for technical as well as business problems and back office operations for investment management and hedge funds.

Chatterjee said, the growth in these market segments in the United States and global markets would enable Fi-Tek to become a competitively priced high end BPO service provider from Kolkata and create major value for the company.

Some of the company's major clients were Ernst & Young, JP MorganChase, Bank of New York, CITCO Funds Services, apart from a network of 120 small to medium-sized banks which uses its accounting engine to manage their investment management operations and run their entire back office.